Tadawul Review: 

Tadawul All Share Index (TASI) ended Tuesday’s session ‎negatively, down by -9 points (-0.1%) to close at 11,414 ‎levels. TASI had started the session negatively, down from the ‎previous close by -2 points, but then it gradually rose during ‎the session before it declined to its intraday low by -11 points ‎in the closing auction. In general, 10 out of 20 sectors closed ‎in the red zone, while 113 of 223 stocks fell and 99 rose. ‎Materials (-0.7%), Banks (-0.1%), and Energy (-0.2%) sectors ‎contributed the most to the index's fall by 18 points. ‎Stockwise, Al Rajhi Bank (-0.4%), Aramco (-0.3%), and Saudi ‎National Bank (-0.7%) were the major contributors to the ‎fell. The trading volume activity decreased by -13.5% DoD to ‎reach 242mn shares, while the trading value increased by ‎‎6.2% DoD to reach SAR6.6bn.‎

 

 

Market Wrap International:

The global equity indices surged ahead on Tuesday on the back of better than expected CPI data and renewed optimism over the possible economic support package in China. IN the U.S, CPI data for May-23 came in slightly lower than expected (4% vs 4.1% expected) and reinforced investors expectations of possible pause in the Fed’s policy rate meeting tomorrow. Better inflation print boosted sentiments across asset classes (energy, bonds, equity). The S&P 500 Index added to its gains and rose 0.7%, led by energy, materials and financials.

In Europe, the Stoxx Europe 600 Index gained positive momentum after the data release in the U.S and expectations sof support package in China. The index was up 0.6%. The country level indices were also up in the range of 0.3-0.8%.

In Asia, the expectations of a fresh economic stimulus package kept investors hooked up. The indices in China (HangSeng:+0.6%. Shanghai Composite: +0.1%) gained on Tuesday. Real estate developers were the major gainers for the session. Other major indices too in the region jumped in the range of 0.3-1.8% led by tech. while Taiwan's TAIEX rose by 1.5%.